Money and Banking magazine organizes Money Expo 2010 with special theme “The Road to Wealth” to celebrate its 10th year anniversary and support Thailand economic recovery to distribute wealth to all Thais. The first event, bringing great wealth to Eastern Seaboard, is Money Expo PATTAYA 2010.
Mr.Santi Viriyarangsarit, Money and Banking magazine editor and president of Money Expo 2010 announces that “after its 9 successful years in 2009 with total 5,185,500 visitors and transactions value of 646,000 million baht, Money Expo 2010 will celebrate its 10th anniversary in 2010 in 4 regions in the country with the theme “The Road to Wealth”.
Money Expo brings together best investments and finance offers from nation’s leading commercial banks, financial institutions, along with varied life insurance options available in the market so that retail customers and SMEs can access directly to “funding source” and “Investment Choices”. At the same time, opportunities are opened for Bank and financial institute to expand both retail and SMEs base.
The first Money Expo 2010 The Road to Wealth, the roadmap to achieve wealth for all Thais, will be held in Pattaya of Chonburi province with title “Money Expo Pattaya 2010” during 5-7 February 2010 at PEACH, Royal Cliff Beach Resort Hotel where 22 organizations, including commercial banks, financial institutions together with leading organization from private sector and government agencies will participate.
These organizations will roll out golden promotions for their quality products and services, ranging from low-interest lending rate, special mortgage rate, auto loan, education loan, SMEs loan, credit card, cash card to attractive deposit rates. The best conditions will be offered for investment in stock market, bonds, derivatives, life insurance. Meanwhile, investment guidance and consultancy services will also be provided to those interested. Moreover, liveStage performances from leading superstars are scheduled to entertain visitors.
Commercial banks participate in Money Expo PATTAYA 2010 are Krung Thai Bank Pcl. , Bangkok Bank Pcl. , Kasikorn Bank Pcl. , Siam Commercial Bank Pcl. , Bank of Ayudhya Pcl. , TMB Bank Pcl. , The Siam City Bank Pcl. , CIMB Thai Bank Pcl. , The Thai Credit Retail Bank Pcl. , Commercial banks participate Government Housing Bank , Islamic Bank of Thailand , Muang Thai Life Assurance Co. Ltd. , Ayudhya Capital Auto Lease Plc. , AEON Thana Sinsap (Thailand) Pcl. , Asia Forestry Management Co., Ltd. , Profitable Group , Bank of Thailand , The Revenue Department , The Stock Exchange of Thailand , Securities and Exchange Commission , Office of Insurance Commission and The Agriculture Futures Exchange of Thailand
Chonburi province is the economic, commercial and tourism center of the East given purchasing power of 1.2 million population. At the end of 2008, Gross Provincial Product (GPP) stood at 492,051 million baht, rose by 38,165 million baht from end 2007, while GDP per Capita was 416,003 baht, increase by 27,829 million baht from the end of 2007.
As of September 30, 2009, Chonburi shelters 280 of Banks’ branches. All of which provided 153,324 million baht net credits and raised 191,457 million baht net deposits. From January to October 2009, there are 35 projects applied for investment privileges from BOI.
In addition, there are positive signs of economic recovery given the revised 2010 GDP growth forecast to 3.3 to 5.3% from previous 3.0 to 3.5% by the The Bank of Thailand.
“All indicators show that there are strong demand for loans in Chonburi and the whole Eastern region and consumers still look for better yields in deposits and investment. I’m confident that Money Expo PATTAYA 2010 will again succeed as highly as the first Money Expo PATTAYA held during 6-8 February 2009 that has attracted 45,000 visitors and generated 19,213.68 million baht worth of transactions” Mr.Santi said.
Three other Money Expo 2010
Central - Money Expo 2010 at Queen Sirikit National Convention Center, 6-9 May 2010
North Eastern - Money Expo KORAT 2010 at MCC Hall, The Mall Korat, 8-10 October 2010
North - Money Expo Chiangmai 2010 at Chiangmai University Convention Center, 12-14 November 2010
Wednesday, December 16, 2009
Seven local SMEs win “Bai Po Business Awards by Sasin” A Thai SME Success Story
Siam Commercial Bank (SCB) and the Sasin Graduate Institute of Business Administration of Chulalongkorn University are presenting the prestigious “Bai Po Business Awards by Sasin” to 7 local SMEs. Award winners include Black Canyon (Thailand) Co., Ltd., Narai Intertrade Co., Ltd., Masterkool International Co., Ltd., Teera-Mongkol Industry Co., Ltd., Accurate Technology Co., Ltd., Aruna Co., Ltd., and Papop Co., Ltd. These awards reflect the strong potential and high quality of Thai SMEs. The award presentation ceremony will be held at the Siam Commercial Bank Talad Noi Branch, and presided over by Mr. Anand Panyarachun, Siam Commercial Bank Chairman of the Board of Directors. SCB Business Banking Group Senior Executive Vice President Sirichai Sombutsiri noted that "The Bai Po Business Awards by Sasin are a collaborative effort between Siam Commercial Bank and the Sasin Graduate Institute of Business Administration of Chulalongkorn University. Established in 2007 to recognize successful Thai companies demonstrating distinction among peers, the award aims to inspire local business operators to be more active in continuously enhancing their capabilities, and to assist them in becoming role models for other local small and medium enterprises in setting good standards and boosting sustainable economic growth. This is the fourth time in a row that these award ceremonies have been organized. To date 15 outstanding companies have received the awards, bringing great pride to the SME community."
Sasin Academic Affairs Deputy Director Kittiratt Na Ranong explained that, "Award winners must pass primary evaluation criteria and demonstrate distinctive qualifications critical to competitiveness, including customer focus, innovation, quality, adaptability to change, value creation, branding, efficiency, leadership & team building, social responsibility, and entrepreneurship. These criteria are considered critical to the development of SME business in order to withstand an unfavorable business environment and current economic woes. In selecting award winners, the Evaluation Committee Panel will judge qualified award recipients from candidates, with no limit to the number of candidates receiving the award each year."
Honorary Chairman of the Thai Chamber of Commerce Dr. Ajva Taolananda, in his capacity as the Chairman of the Evaluation Committee Panel, disclosed that this is the forth time that the Bank and Sasin have organized the award presentation ceremony. This year the committee selected seven companies to receive the awards, out of more than 150 applicants or nominated candidates, namely:
Teera-Mongkol Industry Co., Ltd.: A leading manufacturer and distributor of ballast and lighting equipment, the Company has introduced innovative technology emphasizing energy savings and manufactures products that offer an effective substitute for import products. The Company was awarded for its distinction in terms of adaptability to change and quality.
Narai Intertrade Co., Ltd.: A designer, manufacturer, and distributor of fabric bags and accessories under the "Naraya" brand, the Company is distinguished for its quality and efficiency.
Black Canyon (Thailand) Co., Ltd.: The Company operates coffee shops and restaurants famous worldwide and has distinguished itself through branding and value creation.
Papop Co., Ltd.: An environmental engineering consultant company helping businesses reduce their costs, while also generating more revenues. Its two-in-one technology effectively treats wastewater and generate biogas as renewable energy at the same time. The Company was awarded for its distinction in innovation, value creation, and social responsibility.
Masterkool International Co., Ltd.: A manufacturer and distributor of outdoor cooling system products that employ a natural water evaporation process, the Company has distinguished itself through its innovation, customer focus, and branding. Accurate Technology Co., Ltd.: A leading manufacturer, distributor, and exporter of industrial laundry equipment under the “Image” brand, distinguished for innovative technology and reduced production costs. As evidence of its branding, innovation, and quality leadership, the Company is No. 1 sales in the ASEAN region and No. 14 in the world.
Aruna Co., Ltd.: An OEM exporter of regular and polychromos color pencils, Aruna Co. is Thailand's first and only company with a special integrated bonding technique for producing lead with certified quality standards, safety, and a friendly environment. The Company was awarded for its distinction in terms of quality and customer focus. The “Bai Po Business Awards by Sasin” awards presented to these 7 companies will certainly help create business opportunities, boost creditability for trading partners and customers, and inspire other firms to demonstrate their competitiveness and growth.
Previous Bai Po Business Awards by Sasin award winners include Rukluke Edutex Co., Ltd., Officemate Co., Ltd., Bathroom Design Co., Ltd., Business Online Public Co., Ltd., General Hospital Products Public Co., Ltd., Taokaenoi Food and Marketing Co., Ltd., Bertram Chemical (1982) Co., Ltd., Botanique Co., Ltd., Ubis ( Asia) PCL, Interlink Communication PCL, Yothaka International Co., Ltd., Nandee Inter-Trade Co., Ltd., VPP Progressive Co., Ltd., Perm Poon Patana Industry Co.,Ltd., and Twin Lotus Co., Ltd.
The “Bai Po Business Awards by Sasin” aim to support the stable growth of local companies. Entrepreneurs can apply, or nominate other companies for the award program, by obtaining details from the Sasin Management Team at 02-218-4009 ext. 181-183, the SCB Business Call Center at 02-722-2222, www.baipo-business-awards.org, or by E-mail at baipo@sasin.edu.
The Sasin Graduate Institute of Business Administration of Chulalongkorn University
Sasin Academic Affairs Deputy Director Kittiratt Na Ranong explained that, "Award winners must pass primary evaluation criteria and demonstrate distinctive qualifications critical to competitiveness, including customer focus, innovation, quality, adaptability to change, value creation, branding, efficiency, leadership & team building, social responsibility, and entrepreneurship. These criteria are considered critical to the development of SME business in order to withstand an unfavorable business environment and current economic woes. In selecting award winners, the Evaluation Committee Panel will judge qualified award recipients from candidates, with no limit to the number of candidates receiving the award each year."
Honorary Chairman of the Thai Chamber of Commerce Dr. Ajva Taolananda, in his capacity as the Chairman of the Evaluation Committee Panel, disclosed that this is the forth time that the Bank and Sasin have organized the award presentation ceremony. This year the committee selected seven companies to receive the awards, out of more than 150 applicants or nominated candidates, namely:
Teera-Mongkol Industry Co., Ltd.: A leading manufacturer and distributor of ballast and lighting equipment, the Company has introduced innovative technology emphasizing energy savings and manufactures products that offer an effective substitute for import products. The Company was awarded for its distinction in terms of adaptability to change and quality.
Narai Intertrade Co., Ltd.: A designer, manufacturer, and distributor of fabric bags and accessories under the "Naraya" brand, the Company is distinguished for its quality and efficiency.
Black Canyon (Thailand) Co., Ltd.: The Company operates coffee shops and restaurants famous worldwide and has distinguished itself through branding and value creation.
Papop Co., Ltd.: An environmental engineering consultant company helping businesses reduce their costs, while also generating more revenues. Its two-in-one technology effectively treats wastewater and generate biogas as renewable energy at the same time. The Company was awarded for its distinction in innovation, value creation, and social responsibility.
Masterkool International Co., Ltd.: A manufacturer and distributor of outdoor cooling system products that employ a natural water evaporation process, the Company has distinguished itself through its innovation, customer focus, and branding. Accurate Technology Co., Ltd.: A leading manufacturer, distributor, and exporter of industrial laundry equipment under the “Image” brand, distinguished for innovative technology and reduced production costs. As evidence of its branding, innovation, and quality leadership, the Company is No. 1 sales in the ASEAN region and No. 14 in the world.
Aruna Co., Ltd.: An OEM exporter of regular and polychromos color pencils, Aruna Co. is Thailand's first and only company with a special integrated bonding technique for producing lead with certified quality standards, safety, and a friendly environment. The Company was awarded for its distinction in terms of quality and customer focus. The “Bai Po Business Awards by Sasin” awards presented to these 7 companies will certainly help create business opportunities, boost creditability for trading partners and customers, and inspire other firms to demonstrate their competitiveness and growth.
Previous Bai Po Business Awards by Sasin award winners include Rukluke Edutex Co., Ltd., Officemate Co., Ltd., Bathroom Design Co., Ltd., Business Online Public Co., Ltd., General Hospital Products Public Co., Ltd., Taokaenoi Food and Marketing Co., Ltd., Bertram Chemical (1982) Co., Ltd., Botanique Co., Ltd., Ubis ( Asia) PCL, Interlink Communication PCL, Yothaka International Co., Ltd., Nandee Inter-Trade Co., Ltd., VPP Progressive Co., Ltd., Perm Poon Patana Industry Co.,Ltd., and Twin Lotus Co., Ltd.
The “Bai Po Business Awards by Sasin” aim to support the stable growth of local companies. Entrepreneurs can apply, or nominate other companies for the award program, by obtaining details from the Sasin Management Team at 02-218-4009 ext. 181-183, the SCB Business Call Center at 02-722-2222, www.baipo-business-awards.org, or by E-mail at baipo@sasin.edu.
The Sasin Graduate Institute of Business Administration of Chulalongkorn University
Forecast Article Looks At The Different Paths The U.S. Economic Recovery Could Take
Each month, Standard & Poor's Ratings Services publishes its economists' best estimate of where the U.S. economy could be heading. However, financial market participants also want to know how we think things could go worse--or better--than what our baseline scenario calls for. As a result, we have been publishing a quarterly feature called "Risks to the Forecast," in which we project two additional scenarios, one worse than the baseline and one better. Standard & Poor's published the latest version of this article, which is titled "U.S. Risks To The Forecast: Half Speed Or Full Speed?," earlier today.
According to the article, our baseline forecast assumes a gradual recovery after a few quarters of bouncing along the bottom, which looks like a stretched-out "U." But the risk of another downward leg on the recession remains real, producing a "W." The optimistic scenario is that we could again be underestimating the American consumer, and a stronger recovery could still turn into a more typical "V"-shaped expansion. However, the Japanese experience of the 1990s suggests that the risk of a fourth scenario, an "L"-shaped recession where years rather than months are spent bouncing along the bottom, should not be ignored.
It should be noted that our baseline scenario is far weaker than would be consistent with historical averages. On average, real GDP rises 5% in the first four quarters of a recovery and tends to rise even more sharply after deep recessions. Our baseline scenario shows a rise of only 2.3%, less than one-half the historical average, while our downside case shows an even weaker recovery of just 1.5%. Even our optimistic scenario implies an increase of only 4.7%. "We believe that the imbalances in the world and U.S. economies will keep the expansion slow," noted Standard & Poor's Senior Economist David Wyss. "The question is how slow."
The report is available to RatingsDirect on the Global Credit Portal subscribers at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to research_request@standardandpoors.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
According to the article, our baseline forecast assumes a gradual recovery after a few quarters of bouncing along the bottom, which looks like a stretched-out "U." But the risk of another downward leg on the recession remains real, producing a "W." The optimistic scenario is that we could again be underestimating the American consumer, and a stronger recovery could still turn into a more typical "V"-shaped expansion. However, the Japanese experience of the 1990s suggests that the risk of a fourth scenario, an "L"-shaped recession where years rather than months are spent bouncing along the bottom, should not be ignored.
It should be noted that our baseline scenario is far weaker than would be consistent with historical averages. On average, real GDP rises 5% in the first four quarters of a recovery and tends to rise even more sharply after deep recessions. Our baseline scenario shows a rise of only 2.3%, less than one-half the historical average, while our downside case shows an even weaker recovery of just 1.5%. Even our optimistic scenario implies an increase of only 4.7%. "We believe that the imbalances in the world and U.S. economies will keep the expansion slow," noted Standard & Poor's Senior Economist David Wyss. "The question is how slow."
The report is available to RatingsDirect on the Global Credit Portal subscribers at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to research_request@standardandpoors.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
ESCAP, Myanmar development partnership seeks to boost agricultural sector and enhance rural livelihoods
Nobel laureate Stiglitz leads expert discussions on restoring country as rice bowl of Asia
The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Government of the Union of Myanmar today held a wide-ranging dialogue aimed at boosting the countrys agricultural sector and to help it reclaim its status as the rice bowl of Asia.
At the invitation of ESCAP, Nobel Prize-winning economist Prof. Joseph Stiglitz and other eminent experts discussed strategies for Myanmar to cut poverty in light of Asias regional and subregional experiences.
It is my hope these ideas and analysis will open a new space for policy discussion and a further deepening of our development partnership, UN Under-Secretary-General and ESCAP Executive Secretary Noeleen Heyzer said at the event held in Myanmars capital, Naypyitaw.
These development objectives can only be achieved through the successful engagement of local experts and people who know what is happening on the ground. This development partnership, requested by the Government of Myanmar, provides a unique platform for eminent international scholars and local researchers to exchange experiences and ideas with government agencies and civil society, Dr. Heyzer added.
This is the second in a series of events launched by Dr. Heyzer during her visit in July to Myanmar, and was organized by ESCAP with the countrys Ministry of Agriculture and Irrigation and Ministry of National Planning and Economic Development.
In his presentation, Towards a more productive agrarian economy for Myanmar, Professor Stiglitz noted that Myanmar was well-positioned to learn from other countries in the region that have developed on the back of gains in agriculture. There are large opportunities for improvement. Myanmar should take a comprehensive approach, he said.
He urged the Government of Myanmar to: promote access to appropriate agricultural financing; take measures to boost access to seeds and fertilizers; dramatically boost spending on health and education; and create well-paid jobs in construction of rural infrastructure in order to stimulate development and raise incomes and spending.
Professor Stiglitz also noted that well-functioning institutions were critical to success, and that Myanmar could learn from the mistakes made by other resource-rich countries. Revenues from oil and gas can open up a new era, if used well. If not, then valuable opportunities will be squandered, he said.
Economics and politics can not be separated, Professor Stiglitz added. For Myanmar to take a role on the world stage and to achieve true stability and security there must be widespread participation and inclusive processes. This is the only way forward for Myanmar.
Maj. Gen. U Htay Oo, Minister of Agriculture and Irrigation of Myanmar, noted that climate change has had significant effects on the countrys agriculture and livelihood, particularly in the dry zone. To mitigate such pressure we are implementing short-term and longer term measures, such as promoting access to irrigation water to increase productivity, and developing resource-based as well as knowledge-based sustainable agriculture and livelihoods built on existing infrastructures, he said.
We are adopting a holistic approach informed by the human development perspective to address the needs of the most vulnerable, he added. We cannot afford to be complacent thus the tasks for agriculture and rural development must be implemented through mass movement.
The Minister also welcomed and supported the continued close cooperation and collaboration of ESCAP in the development partnership series. I look forward to the joint activities to come in 2010, in particular the regional development programme for sustainable agriculture towards inclusive rural economy development, he said.
Col. Thurin Zaw, Deputy Minister of National Planning and Economic Development, delivered a presentation on Myanmars National development plans and the implementation of the Millennium Development Goals (MDGs).
The meeting was organized into two segments: The morning roundtable was devoted to expert discussions and included presentations on Recent socio-economic development, by Daw Khin Ma Ma Swe of the Ministry of National Planning and Economic Development, and on Approaches for agriculture and rural development, by Daw Dolly Kyaw of the Ministry of Agriculture and Irrigation.
There were also presentations on Establishing the virtuous cycle of food security, sustainable agriculture and rural economy development, by U Tin Htut Oo and U Tin Maung Shwe of the Academy of Agriculture, Forestry, Livestock and Fisheries Sciences, and on Enhancing Myanmars rural economy, by Ikuko Okamoto of the Institute of Developing Economies-JETRO.
The afternoon high-level development forum covered, Economic policies for growth and poverty reduction: lessons from the region and beyond.
On 21 December in Singapore, Professor Stiglitz and Dr Heyzer will hold a press conference about the forum at the Singapore Foreign Correspondents Association. The press conference will take place at the Singapore Management University, Administration Building, from 9am-10am.
The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Government of the Union of Myanmar today held a wide-ranging dialogue aimed at boosting the countrys agricultural sector and to help it reclaim its status as the rice bowl of Asia.
At the invitation of ESCAP, Nobel Prize-winning economist Prof. Joseph Stiglitz and other eminent experts discussed strategies for Myanmar to cut poverty in light of Asias regional and subregional experiences.
It is my hope these ideas and analysis will open a new space for policy discussion and a further deepening of our development partnership, UN Under-Secretary-General and ESCAP Executive Secretary Noeleen Heyzer said at the event held in Myanmars capital, Naypyitaw.
These development objectives can only be achieved through the successful engagement of local experts and people who know what is happening on the ground. This development partnership, requested by the Government of Myanmar, provides a unique platform for eminent international scholars and local researchers to exchange experiences and ideas with government agencies and civil society, Dr. Heyzer added.
This is the second in a series of events launched by Dr. Heyzer during her visit in July to Myanmar, and was organized by ESCAP with the countrys Ministry of Agriculture and Irrigation and Ministry of National Planning and Economic Development.
In his presentation, Towards a more productive agrarian economy for Myanmar, Professor Stiglitz noted that Myanmar was well-positioned to learn from other countries in the region that have developed on the back of gains in agriculture. There are large opportunities for improvement. Myanmar should take a comprehensive approach, he said.
He urged the Government of Myanmar to: promote access to appropriate agricultural financing; take measures to boost access to seeds and fertilizers; dramatically boost spending on health and education; and create well-paid jobs in construction of rural infrastructure in order to stimulate development and raise incomes and spending.
Professor Stiglitz also noted that well-functioning institutions were critical to success, and that Myanmar could learn from the mistakes made by other resource-rich countries. Revenues from oil and gas can open up a new era, if used well. If not, then valuable opportunities will be squandered, he said.
Economics and politics can not be separated, Professor Stiglitz added. For Myanmar to take a role on the world stage and to achieve true stability and security there must be widespread participation and inclusive processes. This is the only way forward for Myanmar.
Maj. Gen. U Htay Oo, Minister of Agriculture and Irrigation of Myanmar, noted that climate change has had significant effects on the countrys agriculture and livelihood, particularly in the dry zone. To mitigate such pressure we are implementing short-term and longer term measures, such as promoting access to irrigation water to increase productivity, and developing resource-based as well as knowledge-based sustainable agriculture and livelihoods built on existing infrastructures, he said.
We are adopting a holistic approach informed by the human development perspective to address the needs of the most vulnerable, he added. We cannot afford to be complacent thus the tasks for agriculture and rural development must be implemented through mass movement.
The Minister also welcomed and supported the continued close cooperation and collaboration of ESCAP in the development partnership series. I look forward to the joint activities to come in 2010, in particular the regional development programme for sustainable agriculture towards inclusive rural economy development, he said.
Col. Thurin Zaw, Deputy Minister of National Planning and Economic Development, delivered a presentation on Myanmars National development plans and the implementation of the Millennium Development Goals (MDGs).
The meeting was organized into two segments: The morning roundtable was devoted to expert discussions and included presentations on Recent socio-economic development, by Daw Khin Ma Ma Swe of the Ministry of National Planning and Economic Development, and on Approaches for agriculture and rural development, by Daw Dolly Kyaw of the Ministry of Agriculture and Irrigation.
There were also presentations on Establishing the virtuous cycle of food security, sustainable agriculture and rural economy development, by U Tin Htut Oo and U Tin Maung Shwe of the Academy of Agriculture, Forestry, Livestock and Fisheries Sciences, and on Enhancing Myanmars rural economy, by Ikuko Okamoto of the Institute of Developing Economies-JETRO.
The afternoon high-level development forum covered, Economic policies for growth and poverty reduction: lessons from the region and beyond.
On 21 December in Singapore, Professor Stiglitz and Dr Heyzer will hold a press conference about the forum at the Singapore Foreign Correspondents Association. The press conference will take place at the Singapore Management University, Administration Building, from 9am-10am.
Monday, December 7, 2009
THAI President on Roadshows with Overseas Investors lays out Tough Measures To meet Challenges of Difficult Operating Climat
THAI President on Roadshows with Overseas Investors lays out Tough Measures To meet Challenges of Difficult Operating Climate
Thai Airways International Public Company Limited’s new President Mr. Piyasvasti Amranand is on roadshow meetings with international investors to lay out his vision for THAI and to strengthen relationship with the investment community.
Mr. Amranand laid out a tough, but realistic, recovery plan encompassing the reduction of the level of debt, enhancing internet sales, reviewing loss-making routes, seeking options to increase capacity, reducing non-fuel costs and reducing staff benefits.
Laying out his vision for THAI, which he called “a national treasure that we must help protect,” Mr. Amranand said his aim is to lower the Company’s debt to-equity ratio from 3:1 to 2:1 [outstanding debts now total THB 160 billion]. Consideration of a recapitalization will be dependent on planned investments, operating results and other financing options.
THAI is expected to cut non-fuel expenses by THB 11 billion this year.
Mr. Amranand also warned that challenges being posed by the economic slowdown, political uncertainty in Thailand, fuel price fluctuation and the higher level of competition “will be difficult with the increase in number of regional competitors, increased competition from Middle East airlines as well as the rapid growth of low cost airlines.”
THAI is also focusing on measures to enhance revenue – yield management, niche marketing, enhance customer data mining, inflight product enhancements while strictly controlling operating costs. Mr. Amranand also pointed that with fuel constituting a major part of THAI’s cost and is subject to many global economic factors largely beyond THAI’s control, fuel hedging ratio should be appropriate to cushion fuel cost impact. Fuel cost for THAI in 2009 is expected to be THB 48 billion against THB 90 billion last year.
Other major financial measures Mr. Amranand wants to implement include:
- More leasing rather than outright purchasing of aircraft.
- Increasing proportion of internet sales from 4% to 15% of total sales by the end of 2010. Ticket prices to better reflect demand and supply.
- More cooperation with Star Alliance partners and Nok Air, THAI’s low cost subsidiary carrier to increase passenger numbers.
- Senior executive and staff benefits are all on review including seat perks and other benefits.
Mr. Amranand said the four year strategic plan includes a fleet and capital plan which are to be completed in December 2009 for implementation in 2010.
Mr. Amranand laid out five strategies for THAI’s recovery and growth:
- Aligning customer service to better suit customer needs, such as inflight menus to be more in line with customer preference and to take greater care of customers affected by cancelled/delayed flights.
- Better cooperation between THAI business units through a restructured business plan to deliver an outstanding customer experience compared to peers.
- A more dynamic and responsive organization structure improving response to rapid changes in the industry.
- A focus on revenue enhancement by improving sales distribution effectiveness and a revised pricing policy offering more standardized fares through both direct and agency sales.
- Introducing of a “whistleblower policy” to enhance internal governance.
Thai Airways International Public Company Limited’s new President Mr. Piyasvasti Amranand is on roadshow meetings with international investors to lay out his vision for THAI and to strengthen relationship with the investment community.
Mr. Amranand laid out a tough, but realistic, recovery plan encompassing the reduction of the level of debt, enhancing internet sales, reviewing loss-making routes, seeking options to increase capacity, reducing non-fuel costs and reducing staff benefits.
Laying out his vision for THAI, which he called “a national treasure that we must help protect,” Mr. Amranand said his aim is to lower the Company’s debt to-equity ratio from 3:1 to 2:1 [outstanding debts now total THB 160 billion]. Consideration of a recapitalization will be dependent on planned investments, operating results and other financing options.
THAI is expected to cut non-fuel expenses by THB 11 billion this year.
Mr. Amranand also warned that challenges being posed by the economic slowdown, political uncertainty in Thailand, fuel price fluctuation and the higher level of competition “will be difficult with the increase in number of regional competitors, increased competition from Middle East airlines as well as the rapid growth of low cost airlines.”
THAI is also focusing on measures to enhance revenue – yield management, niche marketing, enhance customer data mining, inflight product enhancements while strictly controlling operating costs. Mr. Amranand also pointed that with fuel constituting a major part of THAI’s cost and is subject to many global economic factors largely beyond THAI’s control, fuel hedging ratio should be appropriate to cushion fuel cost impact. Fuel cost for THAI in 2009 is expected to be THB 48 billion against THB 90 billion last year.
Other major financial measures Mr. Amranand wants to implement include:
- More leasing rather than outright purchasing of aircraft.
- Increasing proportion of internet sales from 4% to 15% of total sales by the end of 2010. Ticket prices to better reflect demand and supply.
- More cooperation with Star Alliance partners and Nok Air, THAI’s low cost subsidiary carrier to increase passenger numbers.
- Senior executive and staff benefits are all on review including seat perks and other benefits.
Mr. Amranand said the four year strategic plan includes a fleet and capital plan which are to be completed in December 2009 for implementation in 2010.
Mr. Amranand laid out five strategies for THAI’s recovery and growth:
- Aligning customer service to better suit customer needs, such as inflight menus to be more in line with customer preference and to take greater care of customers affected by cancelled/delayed flights.
- Better cooperation between THAI business units through a restructured business plan to deliver an outstanding customer experience compared to peers.
- A more dynamic and responsive organization structure improving response to rapid changes in the industry.
- A focus on revenue enhancement by improving sales distribution effectiveness and a revised pricing policy offering more standardized fares through both direct and agency sales.
- Introducing of a “whistleblower policy” to enhance internal governance.
"The 26th Thailand International Motor Expo 2009” is confident of pulling 1.6 million visitors 32 car companies ready with promotions to boost year
“The 26th Thailand International Motor Expo 2009” has been launched at IMPACT, expecting 1.6 million spectators. 32 car brands offer appealing promotions to raise bookings to 15,000 cars. Organizer delighted Prime Minister Abhisit Vejjajiva will give Special Talk at the Expo.
Mr. Kwanchai Paphatphong, President of Inter-Media Consultant Co., Ltd. and Organizing Chairman of “The 26th Thailand International Motor Expo 2009” revealed, “The Expo is held this year under the concept “Driving…for Sustainability” as the Organizer wishes that all stakeholders co-operate in “driving” Thailand’s automotive industry to prevail over the economic crisis and attain sustainable success in the future. The symbol depicts light at the end of the tunnel, signifying the waiting success, led to by lines connoting the committed drive towards the destination”.
The 32 car brands participating in “The 26th Thailand International Motor Expo 2009” comprise Audi, BMW, Chery, Chevrolet, Citroen, DFM, Fiat, Ford, Grand Carryboy, Honda, Hyundai, Isuzu, Kia, Land Rover, Magnate, Mazda, MINI, Mitsubishi, Mitsuoka, MTM, Nissan, Peugeot, Polarsun, Proton, Skoda, SsangYong, Subaru, Suzuki, Tata, Toyota, Volkswagen, and Volvo.
Visitors can also see many Concept and Outstanding cars, on exhibition only and not for sale.
- Ford Fiesta the popular small car with worldwide sales of more than 12 million units.
- Chevrolet Camaro High-performance sports coupe, rival of Ford Mustang.
- Honda Insight A mild hybrid featuring Integrated Motor Assist system.
- Hyundai ix-onic The 6th Concept Car from Hyundai Design Center in Rüsselsheim, Germany that introduces a whole new look for Hyundai 's new series of compact SUVs replacing the Hyundai Tucson.
- Suzuki Swift Super 1600 JWRC The rally car used in Junior WRC with widened body based on the 3-door Suzuki Swift Super.
- Toyota Prius The latest third generation 5-door hatchback hybrid in wedge-shaped, more aerodynamic body with only 0.25 coefficient of drag. It looks distinctly updated both outside and inside.
And the Honda PCX 125 cc high-end scooter will also be shown in the Expo, by A.P. Honda for the first time.
“The number of car bookings in the Expo this year is likely to reflect the recently recovering economy at about 15,000 units, close to the 17,000 last year. Anyway, in the Expo last year, we initially forecast 15,000 cars and then along came a political strife so we revised the target down to 13,000 but the final number turned out to be as high as 17,000 units. So we hope the number this year will be close to or even better than last year”, said Mr. Kwanchai.
“We expect the number of visitors from December 2-13 will reach 1.6 million persons as car companies have prepared so many attractive promotional offers to boost their last-quarter sales. In addition, the Organizer also launches a campaign with AIS called Motor Expo Gift Voucher whereby customers can send SMS to win gift vouchers worth 600,000 Baht in total, plus many other special activities to add colours to the Expo and return profits to the visitors.”
“What is very special is the Prime Minister, H.E. Mr. Abhisit Vejjajiva, will do the Motor Expo the honour of giving a Special Talk on the topic “The Way Forward for Thailand’s Automotive Industry and Energy Usage” on Friday 11, December 2009 at 1400 hrs. followed by an open forum for car companies to exchange views on development of the Thai automotive industry” said Mr. Kwanchai.
Regarding enhancement of convenience for Expo visitors and customers, IMPACT, Muang Thong Thani, has co-operated in adding car parking spaces and locations for food & beverage services, as well as installing thermal scanners to scan visitors as measure to suppress the new strain of influenza virus 2009 from spreading. The Organizer has also developed a noise management system to keep the noise level down within the specified standard limit so that it will not spoil the ambiance of the Expo.
The Organizing Chairman also disclosed that the Grand Charity Night has been cancelled this year as the economy has been ebbing for most of the year adversely affecting the majority of car companies.
Nevertheless, the Organizer will still continue the social program by donating all proceeds from admission ticket sale on the ”Grand Charity Day” (December 2) to the Uncontaminated Breath Project.
Mr. Kwanchai Paphatphong, President of Inter-Media Consultant Co., Ltd. and Organizing Chairman of “The 26th Thailand International Motor Expo 2009” revealed, “The Expo is held this year under the concept “Driving…for Sustainability” as the Organizer wishes that all stakeholders co-operate in “driving” Thailand’s automotive industry to prevail over the economic crisis and attain sustainable success in the future. The symbol depicts light at the end of the tunnel, signifying the waiting success, led to by lines connoting the committed drive towards the destination”.
The 32 car brands participating in “The 26th Thailand International Motor Expo 2009” comprise Audi, BMW, Chery, Chevrolet, Citroen, DFM, Fiat, Ford, Grand Carryboy, Honda, Hyundai, Isuzu, Kia, Land Rover, Magnate, Mazda, MINI, Mitsubishi, Mitsuoka, MTM, Nissan, Peugeot, Polarsun, Proton, Skoda, SsangYong, Subaru, Suzuki, Tata, Toyota, Volkswagen, and Volvo.
Visitors can also see many Concept and Outstanding cars, on exhibition only and not for sale.
- Ford Fiesta the popular small car with worldwide sales of more than 12 million units.
- Chevrolet Camaro High-performance sports coupe, rival of Ford Mustang.
- Honda Insight A mild hybrid featuring Integrated Motor Assist system.
- Hyundai ix-onic The 6th Concept Car from Hyundai Design Center in Rüsselsheim, Germany that introduces a whole new look for Hyundai 's new series of compact SUVs replacing the Hyundai Tucson.
- Suzuki Swift Super 1600 JWRC The rally car used in Junior WRC with widened body based on the 3-door Suzuki Swift Super.
- Toyota Prius The latest third generation 5-door hatchback hybrid in wedge-shaped, more aerodynamic body with only 0.25 coefficient of drag. It looks distinctly updated both outside and inside.
And the Honda PCX 125 cc high-end scooter will also be shown in the Expo, by A.P. Honda for the first time.
“The number of car bookings in the Expo this year is likely to reflect the recently recovering economy at about 15,000 units, close to the 17,000 last year. Anyway, in the Expo last year, we initially forecast 15,000 cars and then along came a political strife so we revised the target down to 13,000 but the final number turned out to be as high as 17,000 units. So we hope the number this year will be close to or even better than last year”, said Mr. Kwanchai.
“We expect the number of visitors from December 2-13 will reach 1.6 million persons as car companies have prepared so many attractive promotional offers to boost their last-quarter sales. In addition, the Organizer also launches a campaign with AIS called Motor Expo Gift Voucher whereby customers can send SMS to win gift vouchers worth 600,000 Baht in total, plus many other special activities to add colours to the Expo and return profits to the visitors.”
“What is very special is the Prime Minister, H.E. Mr. Abhisit Vejjajiva, will do the Motor Expo the honour of giving a Special Talk on the topic “The Way Forward for Thailand’s Automotive Industry and Energy Usage” on Friday 11, December 2009 at 1400 hrs. followed by an open forum for car companies to exchange views on development of the Thai automotive industry” said Mr. Kwanchai.
Regarding enhancement of convenience for Expo visitors and customers, IMPACT, Muang Thong Thani, has co-operated in adding car parking spaces and locations for food & beverage services, as well as installing thermal scanners to scan visitors as measure to suppress the new strain of influenza virus 2009 from spreading. The Organizer has also developed a noise management system to keep the noise level down within the specified standard limit so that it will not spoil the ambiance of the Expo.
The Organizing Chairman also disclosed that the Grand Charity Night has been cancelled this year as the economy has been ebbing for most of the year adversely affecting the majority of car companies.
Nevertheless, the Organizer will still continue the social program by donating all proceeds from admission ticket sale on the ”Grand Charity Day” (December 2) to the Uncontaminated Breath Project.
Ausiris hails a new era in gold investments with “Gold Savings” program” to please investors. Launching website for internet trading
Ausiris, Thailand’s leader in gold investment unveils a new form of investment with its “Gold Savings Investment” program together with the launching of a new series of Ausiris gold coins to usher in the New Year. A new service is also being provided to facilitate online gold trading on the internet.
Mr. Boonlert Siripatvanich, President and CEO of Ausiris Co., Ltd. unveiled that the company’s business plans in 2010 would respond to the needs of investors by developing and increasing diverse investment channels. In the next year, investors will be able to select from a variety of options, be it in the form of gold bars, gold savings investment or gold coin collections. The company will offer diverse channels that customers can invest in, while at the same time offering a full service options for Gold Savings Investment.
Mr. Boonlert explained that the first saving option is the “Gold Savings Investment” a program that helps promote greater savings discipline while increasing chances of attaining prosperity for gold investors. The investors can choose either Program 1 Saving with Gold Coin. This type is good for those who prefer saving incrementally through the accumulation of coins that will lead to future prosperity. Simply start from a minimal sum of only 1,000 baht. Program 2 Gold Bar Savings is ideal for those who wish to instill a discipline in saving gold bars starting from the sum of 10,000 baht.
“For the gold coin savings option, investors can start at the minimum of 1,000 baht while for those investing in gold bars, the minimum requirement for investment is 10,000 baht. Both types of investment should be done on a regular basis. The monthly investment amount can be adjusted according to investor’s goals and financial status. The program will bring the money you invest to purchase gold on a daily basis in accordance with each member’s savings period. The operator will deduct money directly from the bank account on the first working day of each month. Your status of savings in terms of money invested and gold ownership will be updated each month free of charge.
Mr. Boonlert also added that the savings program would help promote prosperity by creating discipline through regular savings. He emphasized that there should be a stipulation of the amount being saved each month no matter what the price of gold may be since continuous investments can help lessen the fluctuation in the price of gold. If gold prices increase the ability to purchase gold would increase as well while if prices decreased then one could buy more – all this is dependent on prevailing market conditions.
Since the New Year festivities are drawing near Ausiris has launched a brand new gold coin depicting the sign for the Year of the Tiger for customers who might like to collect coins depicting their birth year signs. There is also the special “Gold Coin for Gift” option with a floral design of Cattheleya orchids or Thai jasmine garlands that make a very meaningful gift.
Mr. Boonlert noted that Ausiris is taking this opportunity to increase its sales channels through online trading on their website. The internet trading system has undergone testing for a period of time and is now ready to offer services to its buyers.
According to Mr. Boonlert, gold has now become a popular new option for investors from several groups or levels who view gold bars as a tangible asset they can be confident in. At the same time the results are also satisfactory especially when compared with investments in other types of assets in the current economic situation we are faced with.
“The demand for gold bars here in Thailand is constantly on the increase since gold is an asset that never diminishes in quality. It has a value in itself that only increases with time and is therefore an attractive asset for investors since the risks are relatively low.”
Mr. Boonlert also offered advice on gold investment strategies congruent to today’s situation reminding investors to be cautious in their moves. Purchasing large quantities of gold at this time is not advisable and it is best to stick to 10-20 baht worth in weight of gold per purchase so as to reduce the risks involved in such transactions. Investors should pay close attention to the movements of the markets and the global economic situation. Most importantly investors should target their purchases in accordance with their individual needs corresponding with the type of god merchandise whether gold bars, gold coins, gold futures etc.
“With the fluctuation we are seeing in today’s economy, investment in gold is still attracting much interest as evident in the increase of purchasing power from the investment sector, the weakening dollar as well as the importation of gold by the central bank for its federal reserves. This means that gold prices will continue to surge until the next year. It is a safe form of investment. The price of gold in the first half of 2010 should remain at around $1000-1,200 per ounce.”
Mr. Boonlert Siripatvanich, President and CEO of Ausiris Co., Ltd. unveiled that the company’s business plans in 2010 would respond to the needs of investors by developing and increasing diverse investment channels. In the next year, investors will be able to select from a variety of options, be it in the form of gold bars, gold savings investment or gold coin collections. The company will offer diverse channels that customers can invest in, while at the same time offering a full service options for Gold Savings Investment.
Mr. Boonlert explained that the first saving option is the “Gold Savings Investment” a program that helps promote greater savings discipline while increasing chances of attaining prosperity for gold investors. The investors can choose either Program 1 Saving with Gold Coin. This type is good for those who prefer saving incrementally through the accumulation of coins that will lead to future prosperity. Simply start from a minimal sum of only 1,000 baht. Program 2 Gold Bar Savings is ideal for those who wish to instill a discipline in saving gold bars starting from the sum of 10,000 baht.
“For the gold coin savings option, investors can start at the minimum of 1,000 baht while for those investing in gold bars, the minimum requirement for investment is 10,000 baht. Both types of investment should be done on a regular basis. The monthly investment amount can be adjusted according to investor’s goals and financial status. The program will bring the money you invest to purchase gold on a daily basis in accordance with each member’s savings period. The operator will deduct money directly from the bank account on the first working day of each month. Your status of savings in terms of money invested and gold ownership will be updated each month free of charge.
Mr. Boonlert also added that the savings program would help promote prosperity by creating discipline through regular savings. He emphasized that there should be a stipulation of the amount being saved each month no matter what the price of gold may be since continuous investments can help lessen the fluctuation in the price of gold. If gold prices increase the ability to purchase gold would increase as well while if prices decreased then one could buy more – all this is dependent on prevailing market conditions.
Since the New Year festivities are drawing near Ausiris has launched a brand new gold coin depicting the sign for the Year of the Tiger for customers who might like to collect coins depicting their birth year signs. There is also the special “Gold Coin for Gift” option with a floral design of Cattheleya orchids or Thai jasmine garlands that make a very meaningful gift.
Mr. Boonlert noted that Ausiris is taking this opportunity to increase its sales channels through online trading on their website. The internet trading system has undergone testing for a period of time and is now ready to offer services to its buyers.
According to Mr. Boonlert, gold has now become a popular new option for investors from several groups or levels who view gold bars as a tangible asset they can be confident in. At the same time the results are also satisfactory especially when compared with investments in other types of assets in the current economic situation we are faced with.
“The demand for gold bars here in Thailand is constantly on the increase since gold is an asset that never diminishes in quality. It has a value in itself that only increases with time and is therefore an attractive asset for investors since the risks are relatively low.”
Mr. Boonlert also offered advice on gold investment strategies congruent to today’s situation reminding investors to be cautious in their moves. Purchasing large quantities of gold at this time is not advisable and it is best to stick to 10-20 baht worth in weight of gold per purchase so as to reduce the risks involved in such transactions. Investors should pay close attention to the movements of the markets and the global economic situation. Most importantly investors should target their purchases in accordance with their individual needs corresponding with the type of god merchandise whether gold bars, gold coins, gold futures etc.
“With the fluctuation we are seeing in today’s economy, investment in gold is still attracting much interest as evident in the increase of purchasing power from the investment sector, the weakening dollar as well as the importation of gold by the central bank for its federal reserves. This means that gold prices will continue to surge until the next year. It is a safe form of investment. The price of gold in the first half of 2010 should remain at around $1000-1,200 per ounce.”
DELL joins VPP to take on projector market using latest DLP technology
Company to highlight after-sales services and superior warranty to rise to the top in 3 years
DELL has once again made an important development in Thailand’s IT industry with the latest cooperation with VPP Systems and Engineering as distributor to promote the sales of projector products among retail customers after enjoying overwhelming responses from commercial customers. The company is confident in its superior warranty and after-sales services with latest projector technology DLP, which is developed to replace the conventional LCD, to attract buyers. The new technology helps make projector more compact and light weight to pave way for Dell to reach the market’s top spot within 3 years.
Mr. Anothai Wetyakorn, Managing Director of DELL Corporation (Thailand) Co., Ltd., one of the leaders in Thailand’s IT industry, disclosed that DELL had selected VPP Systems and Engineering Co., Ltd., leader in sales and distribution of projector products in Thailand to handle distribution of DELL projectors in attempt to break into retail consumers after enjoying tremendous acceptance from commercial buyers. “We are planning to offer products to retail customers starting late this year. The introduction of DELL projector products in Thailand is part of the company’s expansion of product line to cover greater consumer needs. We have so far done well with large corporate customers and this time we would like to reach out to retail customers with 4 quality projector models. With excellent product quality and warranty, along with strength of VPP Systems and Engineering, we are confident in becoming the leader in DLP technology projector in the Kingdom within 3 years,” he said.
As for details of DELL projectors, Mr. Krittawit Kritiyarunegroj, Marketing Manager, South Asia, DELL Corporation, said: “DELL will offer 4 projector models using the latest DLP technology. These models are namely M109S at 16,900 baht; 1210S at 18,500 baht; 1410X at 22,700 baht and 4310WX at 39,000 baht. These new projectors are priced similarly to the LCD projector but with better picture clarity, compact design and light weight feature to attract modern consumers. Most important of all, DELL is highly recognized for its superior after-sales services and service warranty of free repair for 2 years. The bulb also comes with warranty of 2,500 hours, which is 2.5 times longer than the conventional 1,000-hour warranty,” he explained.
During the introductory period, DELL Corporation (Thailand) will offer a special promotion, which includes 2-year free repair at site, bulb warranty of up to 2,500 hours, free 70” X 70” projector screen and premium designed projector bag.
DELL has once again made an important development in Thailand’s IT industry with the latest cooperation with VPP Systems and Engineering as distributor to promote the sales of projector products among retail customers after enjoying overwhelming responses from commercial customers. The company is confident in its superior warranty and after-sales services with latest projector technology DLP, which is developed to replace the conventional LCD, to attract buyers. The new technology helps make projector more compact and light weight to pave way for Dell to reach the market’s top spot within 3 years.
Mr. Anothai Wetyakorn, Managing Director of DELL Corporation (Thailand) Co., Ltd., one of the leaders in Thailand’s IT industry, disclosed that DELL had selected VPP Systems and Engineering Co., Ltd., leader in sales and distribution of projector products in Thailand to handle distribution of DELL projectors in attempt to break into retail consumers after enjoying tremendous acceptance from commercial buyers. “We are planning to offer products to retail customers starting late this year. The introduction of DELL projector products in Thailand is part of the company’s expansion of product line to cover greater consumer needs. We have so far done well with large corporate customers and this time we would like to reach out to retail customers with 4 quality projector models. With excellent product quality and warranty, along with strength of VPP Systems and Engineering, we are confident in becoming the leader in DLP technology projector in the Kingdom within 3 years,” he said.
As for details of DELL projectors, Mr. Krittawit Kritiyarunegroj, Marketing Manager, South Asia, DELL Corporation, said: “DELL will offer 4 projector models using the latest DLP technology. These models are namely M109S at 16,900 baht; 1210S at 18,500 baht; 1410X at 22,700 baht and 4310WX at 39,000 baht. These new projectors are priced similarly to the LCD projector but with better picture clarity, compact design and light weight feature to attract modern consumers. Most important of all, DELL is highly recognized for its superior after-sales services and service warranty of free repair for 2 years. The bulb also comes with warranty of 2,500 hours, which is 2.5 times longer than the conventional 1,000-hour warranty,” he explained.
During the introductory period, DELL Corporation (Thailand) will offer a special promotion, which includes 2-year free repair at site, bulb warranty of up to 2,500 hours, free 70” X 70” projector screen and premium designed projector bag.
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